TheInsightPartners.com added “Power Banks Market to 2025 – Global Analysis and Forecast by Capacity Range, Number of USB Ports and Technology” to its research database. The report is spread across 150 pages and supported by 17 company leaders. Power bank has been witnessing a rising demand from the consumers worldwide, owing to its portability feature and reusability feature upon recharging.

Market research analyst estimates the global market for power banks to grow at a high CAGR during the forecast period. The increasing penetration of smartphones coupled with the extensive use of internet services via applications installed on such devices is expected to augment the demand for power banks during the forecast period. The presence of large vendors like Xiaomi, OnePlus and Sony in this region is an important growth-promoting factor as these vendors provide high-quality power banks at low prices.

Power bank has been witnessing a rising demand from the consumers worldwide, owing to its portability feature and reusability feature upon recharging. Depending upon the usage, consumers have options to purchase power banks with different capacities. Also, power banks are available in different shapes such as square, rectangular and cylinder and sizes providing users with a variety of choices.

The global power banks market is highly fragmented owing to the presence of numerous small and large vendors. The vendors in this market compete on the basis of price, quality, reputation, distribution, and promotion to gain maximum traction over their competitors during the forecast period.

Power Bank or a portable charger is lithium-ion or lithium-polymer based battery used to charge a variety of electronic devices such as tablets, smartphones, music players and other devices with USB slots. With extensive use of internet on electronic devices and limited capacity of inbuilt batteries, there is a rising demand for an external power source that enables the users to charger their devices on the go. The growing demand of power bank in a variety of segments such as communication & technology, and medical & military is expected to create opportunities for the power banks market.

The rising demand and usage of smartphones, tablets and other digital gadgets are expected to drive the global power banks market. Although the use of power banks is increasing significantly, rapid advancement in battery technology has led to the devices now being manufactured with sufficient battery power to eliminate the use of power banks. In addition, the power bank manufacturers are facing stiff competition in order to provide high quality products at lower prices to attract consumers. Thus, these factors combined are restricting the global power banks market.

The global power bank can be segmented on the basis of capacity range, namely: up to 2,000 mAh; 2,001 mAh – 5,000 mAh; 5,001 mAh – 10,000 mAh; 10,001 mAh – 20,000 mAh, and above 20,000 mAh. Further, on basis of the number of Universal Serial Bus (USB) ports, the global power bank market is segmented as one, two, or more than two USB ports. Based on technology, the global power banks market is further segmented into lithium-ion (Li-ion or LIB) and lithium-polymer battery.

The global power bank market is divided into five major regions which include North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). North America leads the global power banks market with high awareness regarding technologically advanced products/gadgets, leading to high adoption of power banks. However, APAC with significant penetration of smartphones and mobile devices by a huge number of consumers is expected to lead the global power banks market in the near future.

About Us: The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, and Telecommunication industries.